Part IV. Items — Internal Revenue Bulletin 2009-25

Section 2036—Graduated Retained Interests; Correction

Announcement 2009–50

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

SUMMARY: This document contains corrections to a notice of proposed rulemaking (REG–119532–08, 2009–20 I.R.B. 1017) that was published in the Federal Register on Thursday, April 30, 2009, at 74 FR 19913. The corrections relate to proposed regulations that provide guidance on the portion of trust property includible in the grantor’s gross estate if the grantor has retained the use of the property, the right to an annuity, unitrust,

graduated retained interest, or other payment from such property for life, for any period not ascertainable without reference to the grantor’s death, or for a period that does not in fact end before the grantor’s death.

FOR FURTHER INFORMATION CONTACT: Theresa M. Melchiorre, (202) 622–3090 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The notice of proposed rulemaking that is the subject of this document is under section 2036 of the Internal Revenue Code.

Need for Correction

As published, the notice of proposed rulemaking (REG–119532–08) that was

published on April 30, 2009 (74 FR 19913) contains errors in one of the charts that are misleading and needs clarification.

Correction to Publication

Accordingly, the notice of proposed rulemaking which was the subject of FR Doc. E9–10003 is corrected as follows:

On page 19917, §20.2036–1(c)(2)(iii) Example 7 (iii), the chart at the top of the page is corrected to read as follows:

§20.2036–1 Transfers with retained life estate .

- - - (c) * - (2) - * (iii) * * Example 7. (i) * * * (iii) * *

		Year 3	Year 4	Year 5	Amount required to generate annuity
Additional annuity	$34,560	Deferral period	Deferral period	$453,109	$453,109
Additional annuity	$28,800	Deferral period	$403,266	$403,266	$403,266
Annuity in year of death	$144,000	$2,117,647	$2,117,647	$2,117,647	2,117,647
Total amount (sum) included in gross estate	Total amount (sum) included in gross estate	Total amount (sum) included in gross estate	Total amount (sum) included in gross estate	Total amount (sum) included in gross estate	$2,974,022

Cynthia E. Grigsby, Senior Federal Register Liaison Officer,

Publications and Regulations Branch,

Legal Processing Division,

Associate Chief Counsel (Procedure and Administration).

(Filed by the Office of the Federal Register on June 2, 2009, 8:45 a.m., and published in the issue of the Federal Register for June 3, 2009, 74 F.R. 26597)

Temporary Suspension of FBAR Filing Requirements for Persons who are not Citizens, Residents, or Domestic Entities

Announcement 2009–51

The Internal Revenue Service is temporarily suspending the reporting requirement with respect to foreign bank accounts (Form TD F 90–22.1 (Report of Foreign Bank and Financial Accounts)) due on June 30, 2009, for those persons who are not citizens, residents, or domestic entities. The revised Form TD F 90–22.1 (October 2008) was issued with a change in the instructions to the definition of “United States person.” The IRS has received a number of questions and comments from the public concerning the new filing re

quirement that may require additional guidance.

To reduce the burden on the public with respect to FBARs due on June 30, 2009, all persons may rely on the definition of “United States person” found in the instructions for the prior version of the FBAR (the July 2000 version) to determine whether they have an obligation to file an FBAR. The definition of “United States person” from the prior version is as follows:

United States Person The term “United States person” means (1) a citizen or resident of the United States, (2) a domestic partnership, (3) a domestic corporation, or (4) a domestic estate or trust. The definition of the term “United States person” from the instructions for the prior version of the FBAR form may be relied upon for purposes of determining

2009–25 I.R.B. 1105 June 22, 2009

who must file an FBAR. All other requirements of the current version of the FBAR form and instructions (revision October 2008) are still in effect. The current version of the form must be used when filing an FBAR.

The substitution of the definition of “United States person” from the instructions for the prior version of the FBAR applies only with respect to FBARs due on June 30, 2009. Additional guidance will be issued with respect to FBARs due in subsequent years.

The Service invites interested persons to submit comments regarding the revised FBAR form and instructions (revision October 2008). Please submit comments by August 31, 2009 to: Internal Revenue Service, CC:PA:LPD:PR (Announcement 2009–51), room 5203, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions also may be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (Announcement 2009–51), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue N.W., Washington, DC. Alternatively, taxpayers may submit electronic comments directly to the IRS e-mail address: notice.comments@irscounsel.treas.gov (attention: Announcement 2009–51).

The principal author of this announcement is Adrienne Mikolashek of the Office

of Associate Chief Counsel (Procedure and Administration). For further information regarding this announcement, contact Adrienne Mikolashek at 202–622–4940 not a toll-free call).

Use of Actuarial Tables in Valuing Annuities, Interests for Life or Terms of Years, and Remainder or Reversionary Interests; Correction

Announcement 2009–52

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

SUMMARY: This document contains a correction to final regulations (T.D. 9448, 2009–20 I.R.B. 942) that were published in the Federal Register on Thursday, May 7, 2009 (74 FR 21438). This regulation relates to the use of actuarial tables in valuing annuities, interests for life or terms of years, and remainder or reversionary interests.

DATES: This correction is effective on June 8, 2009 and is applicable on May 1, 2009.

FOR FURTHER INFORMATION CONTACT: Mayer R. Samuels, (202) 622–3090 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulation (T.D. 9448) that is the subject of this correction is under sections 170 and 2032 of the Internal Revenue Code.

Need for Correction

As published, T.D. 9448 contains errors that may prove to be misleading and is in need of clarification.

- - - -

Correction of Publication

Accordingly, 26 CFR parts 1 and 20 is corrected by making the following correcting amendments:

PART 1—INCOME TAXES

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

Authority: 26 USC 7805 * * * Par. 2. For each section listed in the table below, remove the language in the “Remove” column and add in its place the language in the “Add” column as set forth below:

Section	Remove	Add
§1.170A–12(e)(2) following the formula......	Table 90CM in §20.2031–7....	Table 2000CM in §20.2031–7T.

Treena V. Garrett, Federal Register Liaison, Publications and Regulations Branch,

Legal Processing Division,

Associate Chief Counsel (Procedure and Administration).

(Filed by the Office of the Federal Register on June 5, 2009, 8:45 a.m., and published in the issue of the Federal Register for June 8, 2009, 74 F.R. 27079)

PART 20—ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954

Par. 3. The authority citation for part 20 continues to read in part as follows: Authority: 26 USC 7805 * * * Par. 4. Section 20.2032–1 is amended by revising paragraph (f)(1) to read as follows:

§20.2032–1 Alternate valuation.

- - - (f) - - (1) [Reserved]. Further guidance, see §20.2032–1T(f)(1).

June 22, 2009 1106 2009–25 I.R.B.